According to a report by Bangladesh’s “Financial Express” on February 8, according to a report by the United Nations Trade and Development Organization, Bangladesh will lose US$5.73 billion in export revenue after graduating from the least developed countries. , accounting for 14.28% of total export revenue. The report stated that because Bangladesh is highly dependent on the preferential trade tariff policies brought by its status as a least developed country, Bangladesh has suffered huge losses and impacts on its export trade since graduating from the least developed country. Bangladeshi exports will bear an import tariff of about 8.1-8.9% entering the markets of other countries. Bangladeshi textile and clothing products will lose the most-favored-nation status granted by the EU, and China and India will no longer provide preferential treatment to non-least developed countries.
The author of the report commented that in addition to the EU, Bangladesh also exports a large number of textile and clothing products to Canada, China, India, and Japan, and Bangladesh should negotiate trade with these countries Agreement to maintain tariff-free preferential treatment.
